The index fell 0.13 percent on week, after gaining for three straight weeks.

The index rose on Thursday on hopes President Maithripala Sirisena’s expected announcement on the future of the coalition government would ease political uncertainty.

Sirisena, however, did not address the nation as expected.

“There was not much activity. The market was waiting for the president’s direction,” said Prashan Fernando, CEO at Acuity Stockbrokers.

Prime Minister Ranil Wickremesinghe, however, addressed the media saying that the government will continue, albeit with a reshuffle of the cabinet.

“The market might react on Monday to the Prime Minister’s speech,” said Fernando.

The ruling coalition government of Sirisena’s centre-left Sri Lanka Freedom Party and Prime Minister Wickremesinghe’s centre-right United National Party suffered defeats in a local election over the weekend.

Since the results, both parties have locked horns on how best to continue in the government. Sirisena’s party wants to form its own government, his party ministers have said.

Investors are waiting for some stability and to see where coalition partners are headed, analysts said.

Turnover stood at 735.5 million rupees ($4.74 million), below last year’s daily average of 868.4 million rupees.